Question

Exercise 3-4 Determining cost flows through accounts LO C1, A1, P1 Determine the missing amounts in each of these four separate situations a through d. Supplies available-prior year-end Add: Supplies purchased during the current year Total supplies available Less: Supplies available-current year-end Supplies expense for the current year abcd 325 $ 1,723 $ 1,465 2,275 5,858 6.458 2,600 7,581 775 800 1,423 10,530 7,033 1,945 LE

Answer 1

Ans:

	a	b	c	d
Supplies available -Prior Year end	325	1723	1465	1375
Add:Supplies purchased during the current year	2275	5858	11010	6458
Total Supplies available	2600	7581	12475	7833
Less:Supplies available-Current year end	775	6158	1945	800
Supplies expense for the current year	1825	1423	10530	7033

Explanation:

a=2600-775=1825

b=7581-1423=6158

c=10530+1945=12475;12475-1465=11010

d=7033+800=7833:7833-6458=1375